Fortescue, an Australian green energy company, has decided to build its advanced production facility in Michigan and Detroit. This is good news for the Milwaukee Junction neighborhood, which will benefit from new jobs and increased economic activity.
The facility, which will be renovated, is located on Piquette Street, right behind the Ford Piquette Plant museum and the housing redevelopment led by Platform. Additionally, the nearby Fisher Body 21 project will bring over 400 new housing units.
As part of the $35 million project, the Michigan Strategic Fund has approved:
– A $9 million grant through the Michigan Business Development Program based on performance.
– A 15-year tax abatement on basic services totaling $1,300,950.
– A state tax capture of $2,374,413 for revitalization efforts on the property.
– Over $5 million requested for environmental remediation.
The work in Detroit will start with suppliers from North America, with the intention of expanding to the global market.
“Detroit is an incredibly attractive location for production due to its skilled workforce, existing supply chains for electric vehicles and clean energy, and strong support from state and local authorities,” said Judith Judson, CEO of Fortescue WAE. “Fortescue is committed to being a valued partner to the government and community, working together with the residents of Detroit.”
The company expects to install its first battery production line in the first half of 2025. This is an important step for the economic development of Detroit and the surrounding area, as well as a sign that the city is attractive to renewable energy investors.
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The source of the article is from the blog klikeri.rs